Is it possible to use a formula URL button to update a status AND copy information to the user's clipboard?

Automated access to the clipboard (both read and write) is considered to be security issue so there is no way to do it via script alone. The standard workaround is to use a utility called zeroclipboard which uses flash:

ZeroClipboard
https://github.com/zeroclipboard/zeroclipboard

Feel free to contact me off-world using the information in my profile if you want to pursue using ZCB with QuickBse:

https://getsatisfaction.com/people/dandiebolt

Makes sense, thanks.

Updated Answser: You can use the "cut" and "copy" commands without any special permission if you are using them in a short-lived event handler for a user action (for example, a click handler).

Interact with the clipboard
https://developer.mozilla.org/en-US/Add-ons/WebExtensions/Interact_with_the_clipboard

Hard to keep up with the the features ...